Announcement • Jun 30
CNOOC Limited to Report First Half, 2026 Results on Aug 31, 2026 CNOOC Limited announced that they will report first half, 2026 results on Aug 31, 2026 New Risk • Jun 08
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.3% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.3% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Upcoming Dividend • Jun 04
Upcoming dividend of HK$0.55 per share Eligible shareholders must have bought the stock before 11 June 2026. Payment date: 10 July 2026. Payout ratio is a comfortable 44% and this is well supported by cash flows. Trailing yield: 4.7%. Lower than top quartile of Hong Kong dividend payers (6.9%). In line with average of industry peers (4.9%). Declared Dividend • May 20
Dividend of HK$0.55 announced Shareholders will receive a dividend of HK$0.55. Ex-date: 11th June 2026 Payment date: 10th July 2026 Dividend yield will be 4.6%, which is lower than the industry average of 9.0%. Sustainability & Growth Dividend is covered by both earnings (44% earnings payout ratio) and cash flows (57% cash payout ratio). The dividend has increased by an average of 9.1% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to remain steady over the next 3 years, which should provide adequate earnings cover for the dividend. Announcement • Apr 29
CNOOC Limited, Annual General Meeting, Jun 03, 2026 CNOOC Limited, Annual General Meeting, Jun 03, 2026. Announcement • Mar 30
CNOOC Limited to Report Q1, 2026 Results on Apr 29, 2026 CNOOC Limited announced that they will report Q1, 2026 results on Apr 29, 2026 Announcement • Mar 27
CNOOC Limited Recommends Final Dividend for the Year Ended 31 December 2025 Board of Directors of CNOOC Limited recommended a dividend payout ratio of 45% for the year ended 31 December 2025. The annual dividend is HKD 1.28 per share (tax inclusive), including a final dividend of HKD 0.55 per share (tax inclusive). Announcement • Jan 03
CNOOC Limited Announces Buzios6 Project Commences Production CNOOC Limited announced that Buzios6 Project has commenced production safely. Buzios oilfield is located in the Santos Basin, southeast offshore of Brazil. It is the large deep-water pre-salt oilfield in the world. Buzios6 is the seventh project commissioned of the oilfield. It will be developed with an FPSO and subsea production system. 13 development wells are planned to be commissioned, including 6 oil producers and 7 injectors. With Buzios6 on-stream, the installed production capacity of the Buzios oilfield will reach 1.15 million barrels per day. The FPSO used in the Buzios6 project has a designed production capacity of 180,000 barrels of crude oil per day and 7.2 million cubic meters of natural gas per day, along with a storage capacity of 2 million barrels. To enhance environmental performance, it is equipped with closed flare to reduce greenhouse gas emissions, and heat recovery devices to reduce energy consumption. Announcement • Dec 26
CNOOC Limited to Report Fiscal Year 2025 Results on Mar 27, 2026 CNOOC Limited announced that they will report fiscal year 2025 results on Mar 27, 2026 Announcement • Dec 24
CNOOC Limited Announces a Hundred-Million-Ton Oilfield Discovery of Qinhuangdao 29-6 in Bohai Sea CNOOC Limited announced that the Company has made a major oilfield discovery of Qinhuangdao 29-6 in the shallow Neogene formations of the Bohai Sea, which adds over a hundred million tons of oil equivalent in-place. Qinhuangdao 29 -6 Oilfield is located in central Bohai Sea. The main oil-bearing play is Neogene Minghuazhen Formation, characterized by shallow burial depth. The oil property is medium-heavy crude. The discovery well was drilled and completed at a depth of 1,688 meters, which encountered a total of 66.7 meters oil pay zones and was tested to produce approximately 2,560 barrels of crude oil per day. Through continued exploration, the proved in-place volume of Qinhuangdao29-6 Oilfield has exceeded 100 million tons of oil equivalent. Qinhuangdao 30-6 Oilfield is the second one-hundred-million-ton-class lithological oilfield discovered in the mature exploration area of the Shijiutuo Uplift, further highlighting the value of fine exploration and consolidating the resource base for increasing reserves and production for the Company. Announcement • Dec 22
CNOOC Limited Brings On-stream Xijiang Oilfields 24 Block Development Project CNOOC Limited announced that Xijiang Oilfields 24 Block Development Project has commenced production. The project is located in the shallow water of the Pearl River Mouth Basin. The development of the project mainly leverages the adjacent existing facilities of the Huixi Oilfields, with addition of a new unmanned wellhead platform. 10 development wells are planned to be commissioned. The project is expected to achieve a plateau production of approximately 18,000 barrels of oil equivalent per day in 2026. The oil property is light crude. The new Xijiang 24-7 platform is China's first unmanned offshore platform for high-temperature fluid cooling and export. The temperature control system reduces the impact of high temperatures on subsea pipelines, thereby ensuring stable and continuous production. CNOOC Limited holds 100% interest in this project and is the operator. Announcement • Dec 03
CNOOC Limited Brings On-stream Weizhou 11-4 Oilfield Adjustment and Satellite Fields Development Project CNOOC Limited announced that Weizhou 11-4 Oilfield Adjustment and Satellite Fields Development Project has commenced production. The project is located in the Beibu Gulf Basin of the South China Sea, with an average water depth of approximately 43 meters. The project leverages the adjacent existing facilities for development. The main production facilities include a newly-built unmanned wellhead platform and a central processing platform, which are connected to an existing platform through a trestle bridge. 35 development wells are planned to be commissioned, including 28 production wells and 7 water injection wells. The project is expected to achieve a plateau production of approximately 16,900 barrels of oil equivalent per day in 2026. The oil property is light crude. The project has adopted a coordinated development plan of "three offshore processing centers + one onshore terminal", serving as a gathering and transportation hub to release the resource capacity and ensure stable energy supply in the region. Announcement • Sep 30
CNOOC Limited to Report Q3, 2025 Results on Oct 31, 2025 CNOOC Limited announced that they will report Q3, 2025 results on Oct 31, 2025 Announcement • Sep 04
CNOOC Limited Brings On-stream Wenchang 16-2 Oilfield Development Project CNOOC Limited announced that Wenchang 16-2 Oilfield Development Project has commenced production. The project is located in the western Pearl River Mouth Basin, with an average water depth of approximately 150 meters. The development of the project mainly leverages the adjacent existing facilities of the Wenchang Oilfields, with addition of a new jacket platform integrating functions such as oil and gas production, offshore drilling and completion operations as well as personnel accommodation. A total of 15 development wells are planned to be commissioned. The project is expected to achieve a plateau production of approximately 11,200 barrels of oil equivalent per day in 2027. The oil property is light crude. CNOOC Limited holds 100% interest in this project and is the operator. Announcement • Aug 27
CNOOC Limited Announces Interim Dividend The Board of Directors of CNOOC Limited has resolved to declare an interim dividend of HKD 0.73 per share (tax inclusive). Announcement • Aug 08
CNOOC Limited Announces Yellowtail Project Commences Production CNOOC Limited announced that Yellowtail Project has commenced production safely ahead of schedule. The Yellowtail Project is located in the Stabroek Block offshore Guyana, with water depth of 1,600-2,000 meters. The main production facilities include 1 floating production, storage and offloading (FPSO) and 1 subsea production system, with 26 production wells and 25 injection wells planned to be commissioned. This FPSO is the largest FPSO on the Stabroek Block with a storage capacity of 2 million barrels. The Liza Phase 1, Liza Phase 2 and Payara Project in Guyana's Stabroek Block have commenced production, with the block currently producing approximately 650,000 barrels of crude oil per day. The Yellowtail Project has a production capacity of 250,000 barrels per day, which will increase the installed production capacity of Stabroek Block to 900,000 barrels of crude Oil per day. Announcement • Jul 29
CNOOC Limited Brings On-Stream Dongfang 1-1 Gas Field 13-3 Block Development Project CNOOC Limited announced that Dongfang 1-1 Gas Field 13-3 Block Development Project has commenced production. The project is the first high-temperature, high-pressure, low-permeability natural gas project offshore China. It is located in the Yinggehai Basin, with an average water depth of approximately 67 meters. The main production facility is a new unmanned wellhead platform and it utilizes the existing processing facilities of the Dongfang gas fields for development. A total of 6 development wells are planned to be commissioned. The project is expected to achieve a peak production of approximately 35 million cubic feet of natural gas per day in 2026. The existing facilities are used to connect the Dongfang 1-1 gas field and Dongfang 13-2 gas field. CNOOC Limited has thereby successfully established an integrated offshore gas production network in the Yinggehai Basin. It will facilitate the stable and reliable supply of natural gas in the region, providing strong support for the economic and social development of Guangdong, Hong Kong, and Hainan. CNOOC Limited holds 100% interest in this project and is the operator. Announcement • Jul 16
CNOOC Limited Achieves Major Exploration Breakthrough in the Deep Plays of the South China Sea CNOOC Limited announced that it has achieved a major breakthrough in the exploration of metamorphic buried hills in the deep plays in the South China Sea for the first time. The Weizhou 10-5 South Oil and GasField is located in the Beibu Gulf of the South China Sea, with an average water depth of 37 meters. Exploration well WZ10-5S-2d encountered an oil and gas pay zone of 211 meters, with a total drilled depth of 3,362 meters. The test results indicate that the well produces 165,000 cubic feet of natural gas and 400 barrels of crude oil per day. It marks a major exploration breakthrough in the metamorphic sandstone and slate buried hills offshore China. Announcement • Jul 08
CNOOC Limited Appoints Zhang Chuanjiang as Chairman of the Board, A Non-Executive Director, Chairman of the Nomination Committee and Chairman of the Strategy and Sustainability Committee, Effective 8 July 2025 CNOOC Limited announced that Mr. Zhang Chuanjiang has been appointed as Chairman of the Board, a Non-executive Director, Chairman of the Nomination Committee and Chairman of the Strategy and Sustainability Committee of the Company. Born in 1968, Mr. Zhang is a professor-level senior engineer with a Master's degree in engineering. Mr. Zhang previously served as the Deputy General Manager and General Manager of Ordos Coal-to-Liquids Branch of China Shenhua Coal to Liquid and Chemical Co. Ltd., the Chairman of China Shenhua Coal to Liquid and Chemical Co. Ltd., and the Director of the Chemical Industry Operation and Management Center of China Energy Investment Corporation Co. Ltd. (CHN Energy). He served as the Chairman of CHN Energy Ningxia Coal Industry Co. Ltd. from March 2020 to July 2020. He served as a Vice President of China Datang Corporation Ltd. from July 2020 to April 2024. He served as the Director and President of China Datang Corporation Ltd. from April 2024 to June 2025. He has been serving as Chairman of China National Offshore Oil Corporation, Chairman and President of Overseas Oil & Gas Corporation Ltd., and Chairman of CNOOC (BVI) Limited from June 2025. Mr. Zhang has been appointed as Chairman of the Board, a Non-executive Director, Chairman of the Nomination Committee and Chairman of the Strategy and Sustainability Committee of the Company with effect from 8 July 2025. Announcement • Jun 30
CNOOC Limited to Report First Half, 2025 Results on Aug 28, 2025 CNOOC Limited announced that they will report first half, 2025 results on Aug 28, 2025 Announcement • Jun 09
CNOOC Limited Brings On-stream Weizhou 5-3 Oilfield Development Project CNOOC Limited announced that Weizhou 5-3 Oilfield Development Project has commenced production. The project is located in the Beibu Gulf Basin of the South China Sea, with an average water depth of approximately 35 meters. The main production facility includes 1 self-installing wellhead platform, which leverages the adjacent existing facilities for development. 10 development wells are planned to be commissioned, including 7 production wells, 2 water injection wells and 1 gas injection well. The project is expected to achieve a plateau production of approximately 10,000 barrels of oil equivalent per day in 2026. The oil property is medium crude. CNOOC Limited holds 51% interest in the project, and Smart Oil Investment Ltd. holds the remaining 49%. Announcement • Jun 05
CNOOC Limited Elects Chan Chak Ming as an Independent Non-Executive Director, as Member of Each of the Audit Committee and the Remuneration Committee CNOOC Limited announced that at its AGM held on 5 June 2025, the Board announced that Mr. Chan Chak Ming ("Mr. Chan") was elected as an Independent Non-executive Director of the Company at the Annual General Meeting. The Board also appoints Mr. Chan as a member of each of the Audit Committee and the Remuneration Committee of the Company with effect from the conclusion of the Annual General Meeting. Born in 1967, Mr. Chan holds a Master of Law LL.M. from the London School of Economics and Political Science, a Master of Business Administration MBA from the University of Oxford, and a Master of Public Administration MPA from Harvard University. He is qualified to practice as a solicitor in Hong Kong and England and Wales, and is a Guangdong-Hong Kong-Macao Greater Bay Area GBA Lawyer. Mr. Chan has held several public positions, including president of The Law Society of Hong Kong, a member of the 13th session of the Jinan Municipal Committee of the Chinese People's Political Consultative Conference, and a member of the Board of Review (Inland Revenue Ordinance) in Hong Kong. Currently, he works as a consultant for law firms in Hong Kong, London, and the Greater Bay Area, China. Additionally, he serves on various public agencies, including as an Executive Committee member of the China Law Society, a member of the Law Reform Commission of Hong Kong, chairman of the Legal Committee of the Independent Police Complaints Council of Hong Kong, and a member of the Hong Kong Government Trade and Industry Advisory Board. Announcement • May 28
CNOOC Limited Announces Mero4 Project Commences Production CNOOC Limited announced that Mero4 Project has commenced production safely at May 24 Brazil time. Mero field is located in the Santos Basin pre-salt southeastern offshore Brazil, about 180 kilometers away from Rio de Janeiro, in a water depth of between 1,800 and 2,100 meters. Mero4 Project will be developed by the traditional deep-water Pre-salt development mode, FPSO+Subsea. 12 development wells are planned to be commissioned, including 5 oil producers, 6 water or gas alternate injectors, 1 convertible well. In order to maximize production, the wells are equipped with intelligent well completion technology, which enables the remotely switching between production and injection wells via platform. Announcement • May 12
CNOOC Limited, Annual General Meeting, Jun 05, 2025 CNOOC Limited, Annual General Meeting, Jun 05, 2025. Announcement • Apr 14
CNOOC Limited Brings On-stream Wenchang 9-7 Oilfield Development Project CNOOC Limited announced that Wenchang 9-7 Oilfield Development Project has commenced production. The project is located in the western Pearl River Mouth Basin, with an average water depth of approximately 120 meters. The main production facility is a new drilling and production platform, which leverages the adjacent facilities for development. 25 development wells are planned to be commissioned, including 18 production wells and 7 gas injection wells. The project is expected to achieve a plateau production of approximately 12,000 barrels of oil equivalent per day in 2027. The oil property is light crude. Adhering to the concept of efficient utilization of resources and sustainable development, CNOOC Limited has steadily promoted green development of offshore oil and gas resources. Wenchang 9-7 oilfield Development Project is the first offshore low permeability oilfield that utilizes miscible gas flooding. The technology solves the problem of low permeability reservoirs development and significantly enhances oil recovery. Meanwhile, the Company pursues efficient recovery and utilization of associated gas and builds a comprehensive gas network in Wenchang Oilfields. The pipelines are interconnected, while flare gas and waste heat is recovered. Leveraging the gas network, Wenchang 9-7Oilfield has realized "zero flaring". In addition, Wenchang 9- 7 Oilfield is equipped with the world's first 5MW offshore high-temperature flue gas ORC power generation unit, which is expected to generate up to 40 million kilowatt-hours of electricity and thus reduce carbon dioxide emissions by approximately 33,000 tons per year. Announcement • Mar 31
Cnooc Limited Announces Hundred-Million-Ton Oilfield Discovery of Huizhou 19-6 CNOOC Limited announced that the Company has made a major oilfield discovery of Huizhou 19-6 in the deep and ultra-deep plays of the South China Sea, which adds over a hundred million tons of oil equivalent in-place. Huizhou 19-6 oilfield is located in the eastern South China Sea, with an average water depth of approximately 100 meters. The main oil-bearing plays are Paleogene Enping Formation and Wenchang Formation, and the oil property is light crude. The discovery well HZ19-6-3 was drilled and completed at a depth of 5,415 meters, which encountered a total of 127 meters oil and gas pay zones. The well was tested to produce 413 barrels of crude oil and 2.41 million cubic feet of natural gas per day. Through continued exploration, the proved in-place volume of Huizhou 19- 6 oilfield has exceeded a hundred million tons of oilivalent. Announcement • Mar 17
CNOOC Limited Brings On-stream Two New Projects CNOOC Limited announced that Caofeidian 6-4 Oilfield Comprehensive Adjustment Project and Wenchang 19-1 Oilfield Phase II Project have commenced production. Caofeidian 6- 4 Oilfield Comprehensive Adjustment Project is located in the western part of the Bohai Sea, with an average water depth of approximately 20 meters. The main production facility is a new production wellhead platform, which leverages the adjacent existing facilities for development. 25 development wells are planned to be put into production, including 22 production wells and 3 water injection wells. The project is expected to achieve a peak production of approximately 11,000 barrels of oil equivalent per day in 2026. The oil property is light crude. Wenchang 19-1 oilfield Phase II Project is located in the western parts of the Pearl River Mouth Basin, with an average water depthof approximately 125 meters. The main production facility are a new drilling and production platform, which also leverages the adjacent existing facilities For development. 13 development wells are planned to be putting into production. The project is expected to achieved a peak production of approximately 12,000 barrels of oil equivalent Per day in 2027. The oil property is medium crude. CNOOC Limited is committed to building intelligent offshore oil and gas fields and developing oil and gas resources in a green and low-carbon manner, so that it could provide the society with clean, reliable, and stable energy supplies. The design concept of intelligent oil and gas fields were used in the two new projects. Some of the procedures, such as crude oil production, equipment maintenance, and safety management, were upgraded with intelligent technologies, to enhance the efficiency of hydrocarbon development. The associated gas of Caofeidian 6- four Oilfield Comprehensive Adjustment Project are reinjected back into the reservoir with gas injection compressors, which will reduce carbon dioxide emissions by approximately 13,000 tons per year. Meanwhile, Wenchang 19-1Oilfield Phase II Project utilizes a megawatt-level high-temperature flue gas ORC power generation unit, which is expected to generate up to 24 million kilowatt-hours of electricity and thus reduces carbon dioxide emissions by approximately 23,000 tons per year. CNOOC Limited holds 100% interest in both Caofeidian 6-3 Oilfield Comprehensive Adjustment Project, and is the operator. Announcement • Feb 21
CNOOC Limited Brings On-stream Luda 5-2 North Oilfield Phase II Development Project CNOOC Limited announced that Luda 5-2 North Oilfield Phase II Development Project has commenced production. The project is located in the central part of the Bohai Sea, with an average water depth of approximately 30 meters. The main production facilities include 1 new auxiliary production platform and 1 production wellhead platform. A total of 29 development wells are planned to be commissioned, including 28 production wells and 1 water source well. The project is expected to achieve a peak production of approximately 6,700 barrels of oil equivalent per day in 2026. The oil property is heavy crude. Luda 5-2 North oilfield is the first oilfield to produce from super heavy oil reservoirs through thermal recovery in China. Its Phase I Project had already commenced production in 2022. CNOOC Limited made major technological breakthroughs in this project and significantly enhanced the development efficiency of offshore super heavy oil. The Phase II Project will further tap the resources of the oilfield. Through optimized Jet Pump Injection-Production Technology, the project realized efficient and economic development of heavy crude, which could further enhance the Company's energy supply capacity. Announcement • Dec 27
CNOOC Limited to Report Fiscal Year 2024 Results on Mar 28, 2025 CNOOC Limited announced that they will report fiscal year 2024 results on Mar 28, 2025 Announcement • Nov 27
CNOOC Limited Announces Board and Committee Changes The Board of CNOOC Limited announced that with effect from November 27, 2024, Mr. Zhou Xinhuai (‘Mr. Zhou’) ceased to serve as the President of the Company due to work commitments. Mr. Zhou remains as the Vice Chairman, an Executive Director and the Chief Executive Officer of the Company; Mr. Yan Hongtao (‘Mr. Yan’) was appointed as an Executive Director, the President and a member of the Strategy and Sustainability Committee of the Company, and ceased to serve as the Vice President of the Company. Born in 1970, Mr. Yan is a senior engineer. Mr. Yan graduated from China University of Petroleum (Beijing) majoring in Oil and Gas Storage and Transportation Engineering and received a Master's degree in Engineering. Mr. Yan served as the Deputy General Manager of the Company's Development and Production Department, Deputy Director of the CNOOC Eastern South China Sea Petroleum Administrative Bureau, Deputy General Manager of the CNOOC (China) Limited Shenzhen Branch, and concurrently served as Deputy General Manager of CNOOC Deepwater Development Limited. From April 2020 to December 2021, Mr. Yan served as the General Manager of the Company's Development and Production Department, Deputy Safety Director and General Manager of the Company's Development and Production Department. Mr. Yan served as General Manager of CNOOC (China) Limited Tianjin Branch from December 2021 to August 2024. Mr. Yan served as a Vice President of the Company from April 2022 to November 2024, and the Deputy General Manager of China National Offshore Oil Corporation (the ‘CNOOC Group’) from August 2024. Mr. Yan will hold office until the 2024 annual general meeting of the Company. The Board announced that Ms. Wen Dongfen (‘Ms. Wen’) ceased to serve as a Non- executive Director and a member of the Audit Committee of the Company due to retirement. The Board announced that Mr. Wang Dehua (‘Mr. Wang’) was appointed as a Non-Executive Director and a member of the Remuneration Committee of the Company. Born in 1966, Mr. Wang is a senior accountant. Mr. Wang graduated from Renmin University of China majoring in Financial Accounting and received a Bachelor's degree in Economics. Mr. Wang previously served as Chief Financial Officer of China Petroleum & Chemical Corporation, Director of Finance Department of China Petrochemical Corporation, and Chairman of the Board of Directors of Shengjun International Investment Limited, Vice Chairman of Sinopec Finance Co. Ltd., etc. Mr. Wang served as the Chief Accountant of China Oil & Gas Pipeline Network Corporation from November 2019 to August 2024. Mr. Wang served as a Director of CNOOC Group from August 2024. The Board announced that Ms. Mu Xiuping (‘Ms. Mu’) was appointed as a Non-Executive Director and a member of the Audit Committee of the Company. Born in 1974, Ms. Mu is a professor-level senior accountant. Ms. Mu received a Master's degree in Business Administration from Tsinghua University. Ms. Mu previously served as the Vice President of Bank of Kunlun Co. Ltd. From October 2018 to May 2022, Ms. Mu served as the Chief Accountant of China Petroleum Engineering Corp. Ltd., and a member of the Coordination Committee of Support and Services Business Group of China National Petroleum Corporation. From May 2022 to October 2024, Ms. Mu served as the General Manager of the Finance Department of PetroChina Company Limited and concurrently served as the Vice Chairwoman of CNPC Exploration and Development Company Limited, Chief Financial Officer of CNPC Taihu Lake Investment (Beijing) Company Limited, etc. during the period. Ms. Mu served as the Chief Accountant of CNOOC Group from October 2024. The Board announced that Mr. Cao Xinjian (‘Mr. Cao’) ceased to serve as an Executive Vice President and the Safety Director of the Company due to work commitments, Mr. Sun Dalu (‘Mr. Sun’) was appointed as an Executive Vice President of the Company, and Mr. Yan Hongtao was appointed as the Safety Director of the Company. Born in 1968, Mr. Sun is a senior economist. Mr. Sun graduated from the University of International Business and Economics majoring in Business Administration and received a Master's degree in Business Administration. Mr. Sun successively served as General Manager of China Offshore Oil (Singapore) International Pte Ltd, General Manager of the Sales Department and General Manager of the Crude Oil and Natural Gas Sales Department of the Company, General Manager of CNOOC Petrochemical Import & Export Co. Ltd., General Manager of the Sales Branch of CNOOC Group, Deputy General Manager of CNOOC Oil & Petrochemicals Co. Ltd., General Manager of the Strategy & Planning Department of CNOOC Group and the Company. From March 2020 to February 2022, Mr. Sun concurrently served as Chairman of CNOOC Oil & Petrochemicals Co. Ltd., Chairman of CNOOC and Shell Petrochemicals Company Limited and Chairman of CNOOC Petrochemical Investment Co. Ltd. Mr. Sun served as Assistant to the General Manager of CNOOC Group from September 2017. Reported Earnings • Oct 29
Third quarter 2024 earnings released: EPS: CN¥0.77 (vs CN¥0.71 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.77 (up from CN¥0.71 in 3Q 2023). Revenue: CN¥99.3b (down 14% from 3Q 2023). Net income: CN¥36.9b (up 9.0% from 3Q 2023). Profit margin: 37% (up from 30% in 3Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Oil and Gas industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has increased by 30% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Oct 04
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to HK$21.55, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 7x in the Oil and Gas industry in Hong Kong. Total returns to shareholders of 242% over the past three years. Announcement • Sep 30
CNOOC Limited to Report Q3, 2024 Results on Oct 24, 2024 CNOOC Limited announced that they will report Q3, 2024 results on Oct 24, 2024 Announcement • Sep 27
CNOOC Limited Brings On-stream Shenhai-1 Phase II Natural Gas Development Project CNOOC Limited announced that Shenhai-1 Phase II Natural Gas Development Project has commenced production. The project is located in the Qiongdongnan Basin, northern South China Sea, with an average water depth of approximately 900 meters. The main production facilities include a new fixed production platform and 3 centralized subsea wellheads, with 12 development wells planned to be commissioned. It is expected to reach peak production of 162 million cubic feet of natural gas and 3,931 barrels of condensate per day in 2025. Declared Dividend • Aug 30
First half dividend of HK$0.74 announced Shareholders will receive a dividend of HK$0.74. Ex-date: 12th September 2024 Payment date: 18th October 2024 Dividend yield will be 6.6%, which is lower than the industry average of 9.0%. Sustainability & Growth Dividend is covered by both earnings (43% earnings payout ratio) and cash flows (53% cash payout ratio). The dividend has increased by an average of 9.6% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 6.6% over the next 3 years. However, it would need to fall by 52% to increase the payout ratio to a potentially unsustainable range. Reported Earnings • Aug 29
Second quarter 2024 earnings released: EPS: CN¥0.84 (vs CN¥0.66 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.84 (up from CN¥0.66 in 2Q 2023). Revenue: CN¥115.3b (up 22% from 2Q 2023). Net income: CN¥40.0b (up 26% from 2Q 2023). Profit margin: 35% (up from 34% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to decline by 1.1% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Hong Kong are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has increased by 40% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Jul 19
Now 23% undervalued Over the last 90 days, the stock has risen 10% to HK$20.50. The fair value is estimated to be HK$26.46, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 29% over the last 3 years. Earnings per share has grown by 31%. For the next 3 years, revenue is forecast to grow by 0.6% per annum. Earnings are forecast to decline by 1.3% per annum over the same time period. Announcement • Jul 15
CNOOC Limited Made Major Exploration Breakthrough in Bohai Bay CNOOC Limited announced that it has achieved a major exploration breakthrough in Mesozoic buried hills offshore Bohai Bay. Longkou 7-1 oilfield is located in eastern Bohai Bay, with an average water depth of about 26 meters. The discovery well LK7-1-1 was drilled and completed at a depth of approximately 4,400 meters, which encountered a total of 76 meters oil and gas pay zones. The well was tested to produce about 210 cubic meters of crude oil and nearly one million cubic meters of natural gas, a new record for gas tested productivity in Bohai Bay. Announcement • Jul 11
CNOOC LimitedAnnounces First Ultra-Deep Well in Bohai Bay Outperforms Target CNOOC Limited announced that the Bozhong 19-6 Condensate Gas Field D1 Well, the first ultra-deep well in Bohai Bay, achieved high yield. Bozhong 19-6 Condensate Gas Field is located in central Bohai Bay, with an average water depth of about 20 meters. It contains proven oil and gas in place of more than 200 billion cubic meters of natural gas and more than 200 million cubic meters of oil. It is the first gas field of such a size in the deep buried hill play offshore China. The Company adopts an "overall planning, phased implementation and pilot first" strategy to develop this field. In 2020, 2023 and 2024, the Company has gradually brought on-stream Bozhong 19-6 Condensate Gas Field Pilot Area Development Project, Phase I Development Project and 13-2 Block 5 Well Site Development Project. The gas field is currently producing approximately 37,500 barrels of oil equivalent per day. The Bozhong 19-6 Condensate Gas Field D1 Well was drilled to a depth of 6,088 meters. It is the first ultra-deep well of the Company in Bohai Bay, which is producing approximately 6,300 barrels of oil equivalent per day. Announcement • Jul 01
Cnooc Limited Brings On-Stream the First Green Design Oilfield in Offshore China CNOOC Limited announced that the first green design oilfield in offshore China - Wushi 23-5 Oilfields Development Project has commenced production. The project is located in the Beibu Gulf of the South China Sea, with an average water depth of approximately 28 meters. The main production facilities include 2 new wellhead platforms, and the renovated Wushi terminal. 43 development wells are planned to be brought on-stream, including 28 oil wells and 15 water-injection wells. The project is expected to achieve a peak production of approximately 18,100 barrels of oil equivalent per day in 2026, and the oil property is light crude. In developing the first full-scale green design oilfield in offshore China, the Company pursued efficient and low-carbon development throughout the whole process of design, construction and production. It is the first oilfield in the South China Sea supplied with power from shore. The project will realize full-process recovery and utilization of the associated gas through integrated natural gas treatment. The commissioning of the project will further promote the green and low-carbon development of CNOOC Limited. Announcement • Jun 29
CNOOC Limited to Report First Half, 2024 Results on Aug 29, 2024 CNOOC Limited announced that they will report first half, 2024 results on Aug 29, 2024 Announcement • Jun 27
CNOOC Limited Announces Enping 21-4 Oilfield Development Project Commences Production CNOOC Limited announced that Enping 21-4 Oilfield Development Project has commenced production. The project is located in eastern South China Sea, with an average water depth of approximately 89 meters. It will be developed by leveraging the existing production facilities and is expected to achieve a peak production of approximately 5,300 barrels of oil equivalent per day in 2025. The oil property is light crude. The Company endeavors to improve project efficiency through technological and managerial innovation. Enping 21-4 oilfield was developed with 2 extra extended reach wells drilled from the existing production platform. The well depth exceeds 9,500 meters. The successful application of the development mode has set an example for similar projects of the Company. CNOOC Limited holds 100% interest in this project and acts as the operator. Buy Or Sell Opportunity • Jun 17
Now 20% undervalued Over the last 90 days, the stock has risen 19% to HK$21.10. The fair value is estimated to be HK$26.48, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 29% over the last 3 years. Earnings per share has grown by 31%. For the next 3 years, revenue is forecast to grow by 0.4% per annum. Earnings are forecast to decline by 1.7% per annum over the same time period. Announcement • Jun 08
CNOOC Limited Announces Major Discovery in Western South China Sea CNOOC Limited announced that it has achieved a major exploration breakthrough in ultra-shallow gas play in ultra-deep water South China Sea. Lingshui 36-1 gas field is located in western South China Sea, with an average water depth of approximately 1,500 meters. The main gas-bearing play is the Ledong Formation of Quaternary, with an average burial depth of 210 meters. The field has been tested to produce over 10 million cubic meters per day of open flow natural gas. Upcoming Dividend • Jun 06
Upcoming dividend of HK$0.66 per share Eligible shareholders must have bought the stock before 13 June 2024. Payment date: 12 July 2024. Payout ratio is a comfortable 41% and this is well supported by cash flows. Trailing yield: 5.9%. Lower than top quartile of Hong Kong dividend payers (7.7%). In line with average of industry peers (6.4%). Buy Or Sell Opportunity • May 30
Now 21% undervalued Over the last 90 days, the stock has risen 27% to HK$20.45. The fair value is estimated to be HK$25.99, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 29% over the last 3 years. Earnings per share has grown by 31%. For the next 3 years, revenue is forecast to grow by 0.1% per annum. Earnings are forecast to decline by 1.7% per annum over the same time period. Declared Dividend • May 10
Dividend of HK$0.66 announced Shareholders will receive a dividend of HK$0.66. Ex-date: 13th June 2024 Payment date: 12th July 2024 Dividend yield will be 6.1%, which is lower than the industry average of 9.0%. Sustainability & Growth Dividend is covered by both earnings (41% earnings payout ratio) and cash flows (59% cash payout ratio). The dividend has increased by an average of 10% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 4.5% over the next 3 years. However, it would need to fall by 54% to increase the payout ratio to a potentially unsustainable range. Announcement • May 10
CNOOC Limited, Annual General Meeting, Jun 07, 2024 CNOOC Limited, Annual General Meeting, Jun 07, 2024. Announcement • May 09
CNOOC Limited Appoints Zhou Xinhuai as Vice Chairman The board of directors (the "Board") of CNOOC Limited announce that Mr. Zhou Xinhuai ("Mr. Zhou"), an executive director of the Company, has been appointed as the vice chairman of the Company (the "Vice Chairman") with effect from 8 May 2024. Zhou Xinhuai: Born in 1970, Mr. Zhou is a professor-level senior engineer. He graduated from Chengdu University of Technology with a Master's degree in Coalfield Oil and Gas Geology andExploration. In 2008, he received a Ph.D. degree in Energy Geological Engineering from China University of Geosciences. Mr. Zhou has worked with CNOOC Group since 1996 holding several positions. From August 2003 to April 2014, he was the project manager and geological chief engineer of the Technology Department of the CNOOC (China) Limited Tianjin Branch, a subsidiary of the Company. He served as the Chief Geological Engineer of Bohai OilResearch Institute of CNOOC Bohai Petroleum Administrative Bureau, and as the manager of Exploration Department of CNOOC Bohai Petroleum Administrative Bureau and the manager of Exploration Department of CNOOC (China) Limited Tianjin Branch from April 2014 to March 2017. Mr. Zhou served as the Chief Geologist at CNOOC East China Sea Petroleum Administrative Bureau and the Chief Geologist at CNOOC (China) Limited Shanghai Branch, a subsidiary of the Company from March 2017 to October 2019. He also worked as the General Manager of the Exploration Division of the Company from October 2019 to March 2021. He served as the General Manager of CNOOC (China) Limited Hainan Branch, a subsidiary of the Company, and Chairman and General Manager of Hainan Energy Co. Ltd., from March 2021 to March 2022. He served as the Deputy General Manager of the CNOOC Group from March 2022 to March 2024. He served as a Director and the President of the CNOOC Group from March 2024. He has been a Director of Overseas Oil & Gas Corporation Ltd. and CNOOC (BVI) Limited since April 2022. He has been the Chairman of the Board of CNOOC (China) Limited since October 2022, and was appointed as the General Manager of this company since June 2023. Mr. Zhou was appointed as the Executive Director and the Chief Executive Officer of the Company with effect from 28 April 2022, was appointed as a member of the Strategy and Sustainability Committee of the Company on 25 August 2022, and has also acted as the President of the Company with effect from 30 June 2023. Reported Earnings • Apr 26
First quarter 2024 earnings released: EPS: CN¥0.84 (vs CN¥0.68 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.84 (up from CN¥0.68 in 1Q 2023). Revenue: CN¥111.5b (up 14% from 1Q 2023). Net income: CN¥39.7b (up 24% from 1Q 2023). Profit margin: 36% (up from 33% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Oil and Gas industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 31% per year whereas the company’s share price has increased by 32% per year. Announcement • Mar 29
CNOOC Limited to Report Q1, 2024 Results on Apr 26, 2024 CNOOC Limited announced that they will report Q1, 2024 results on Apr 26, 2024 Reported Earnings • Mar 22
Full year 2023 earnings released Full year 2023 results: Revenue: CN¥416.6b (down 1.3% from FY 2022). Net income: CN¥123.8b (down 13% from FY 2022). Profit margin: 30% (down from 34% in FY 2022). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Oil and Gas industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Announcement • Mar 22
CNOOC Limited Proposes Final Dividend for Year 31 December 2023 CNOOC Limited proposed to distribute the final dividend for 2023 in the amount of HKD 0.66 per share (tax inclusive) to all the shareholders. Based on the Company's total share capital of 47,566,763,984 shares as of 31 December 2023, the total final dividend for 2023 is HKD 31,394 million (tax inclusive), together with the interim dividend of HKD 0.59 per share (tax inclusive) already paid, the total of final dividend and interim dividend for 2023 are HKD 1.25 per share (tax inclusive), and the total dividend payment amount is HKD 59,458 million (tax inclusive), accounting for approximately 44% of net profit attributable to ordinary shareholders of the Company under the 2023 consolidated financial statements. Announcement • Mar 19
CNOOC Limited Announces a Hundred-Million-Ton Oilfield Discovery of Qinhuangdao 27-3 in Bohai Sea CNOOC Limited announced that the Company has made a major oilfield discovery of Qinhuangdao 27-3 in Bohai Sea, which adds over a hundred million tons of oil equivalent proved in-place volume. Qinhuangdao 27-3 Oilfield is located in the north-central waters of the Bohai Sea, with an average water depth of approximately 25 meters. The main oil-bearing play is the Minghuazhen Formation of Neogene, and the oil property is medium-heavy crude. The discovery well QHD27-3-3 was drilled and completed at a depth of 1,570 meters, which encountered a total of 48.9 meters oil pay zones. The field has been tested to produce approximately 742 barrels of crude oil per day from a single well. Through continued exploration, the proved in-place volume of Qinhuangdao 27-3 Oilfield has reached 104 million tons of oil equivalent. Buy Or Sell Opportunity • Mar 11
Now 22% undervalued Over the last 90 days, the stock has risen 39% to HK$17.32. The fair value is estimated to be HK$22.16, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 36% over the last 3 years. Earnings per share has grown by 48%. For the next 3 years, revenue is forecast to grow by 0.2% per annum. Earnings are forecast to decline by 2.6% per annum over the same time period. Announcement • Mar 08
CNOOC Limited Announces A Hundred-Million-Ton Oilfield Discovery of Kaiping South in South China Sea CNOOC Limited announced that the Company has made a major oilfield discovery of Kaiping South in the deep-water deep-play of the South China Sea, which adds over a hundred million tons of oil equivalent proved in-place volume. The Kaiping South Oilfield is located in the eastern South China Sea, with an average water depth of approximately 500 meters. The main oil-bearing plays are Zhuhai Formation, Enping Formation and Wenchang Formation of Paleogene, and the oil property is light crude. The discovery well KP18-1-1d was drilled and completed at a depth of 3,462 meters, which encountered a total of 100.6 meters oil and gas pay zones. The well was tested to produce an average of approximately 7,680 barrels of crude oil and 0.52 million cubic feet of natural gas per day. Through continued exploration, the proved in-place volume of Kaiping South Oilfield has reached 102 million tons of oil equivalent. Announcement • Feb 23
CNOOC Limited Announces Resignation of Xu Keqiang as Non-Executive Director The board of directors of CNOOC Limited announces that, Mr. Xu Keqiang has resigned as a Non-executive Director due to change of the appointment, with effect from 23 February 2024. Accordingly, he will also cease to be a member of the strategy and sustainability committee of the Company on the same day. Announcement • Jan 25
CNOOC Limited Provides Production Guidance for the Year 2023, 2024, 2025 and 2026 CNOOC Limited provided production guidance for the year 2023, 2024, 2025 and 2026. For the 2023, the Company's net production is estimated to be approximately 675 million BOE.For the 2024, the company expects targeted net production (including its interests in equity-accounted investees) for 2024 is 700 million to 720 million barrels of oil equivalent (BOE), of which, production from China and overseas accounts for approximately 69% and 31%, respectively.For the 2025, the company expected to be 780 million to 800 million BOE.For the 2025, the company expected to be and 810 million to 830 million BOE. Announcement • Jan 02
CNOOC Limited Announces Mero2 Project Commences Production CNOOC Limited announced that Mero2 Project has commenced production safely. Mero, Brazil's third large oilfield, is located in the Santos Basin pre-salt southeastern offshore Brazil. The development plan includes 4 production units, namely, Mero1, Mero2, Mero3 and Mero4. Mero2 Project is the second project commissioned in the field following Mero1 Project. The project is located in a water depth of between 1,800 and 2,100 meters, about 180 kilometers away from Rio de Janeiro. It will be developed by the traditional deep-water Pre-salt development mode, FPSO+Subsea. 16 development wells are planned to be commissioned, including 8 production wells and 8 injectors. The production capacity of the project is 180,000 barrels of crude oil per day. The FPSO used in Mero2 Project was constructed in China in June 2023 and arrived in Brazil in September. Its designed storage capacity is approximately 1.4 million barrels, making it one of the large FPSO in the world. Announcement • Dec 29
CNOOC Limited to Report Fiscal Year 2023 Results on Mar 22, 2024 CNOOC Limited announced that they will report fiscal year 2023 results on Mar 22, 2024 Announcement • Dec 18
CNOOC Limited Announces Resignation of Li Yong as Non-Executive Director and the Vice Chairman of the Board, Member of the Remuneration Committee and the Strategy and Sustainability Committee The board of directors of CNOOC Limited announced that, Mr. Li Yong (Mr. Li) has resigned as a Non-executive Director and the Vice Chairman of the Board due to retirement, with effect from 18 December 2023. Accordingly, he will also cease to be a member of the remuneration committee and the strategy and sustainability committee of the Company on the same day. Mr. Li confirmed that he has no disagreement with the Board and there is no matter relating to his resignation that need to be brought to the attention to the Shareholders of the Company and The Stock Exchange of Hong Kong Limited. Announcement • Nov 15
CNOOC Limited Announces Payara Project in Guyana Commences Production CNOOC Limited announced that Payara Project has commenced production safely. Payara Project locates in the Stabroek Block offshore Guyana and produces with 1 FPSO and 41 subsea wellheads. The FPSO is the third production facility in the Block following the two serving Liza Phase I and Liza Phase II. It was constructed in China and Singapore, and arrived in Guyana in April 2023. It is moored in water depth of about 1,930 meters and will be able to store around 2 million barrels of crude oil. Payara Project is expected to reach its peak production of approximately 220,000 barrels of crude oil per day in 2024. Announcement • Nov 14
Cnooc Limited Announces Bozhong 19-6 Condensate Gas Field Phase I Development Project Commences Production CNOOC Limited announced that Bozhong 19-6 Condensate Gas Field Phase I Development Project has commenced production. The project is located in central Bohai Sea, with an average water depth of approximately 20 meters. The main production facilities include 1 newly built central processing platform, 3 unmanned wellhead platforms and 1 gas process terminal. 65 development wells are planned to be commissioned, including 42 production wells, 20 gas injection wells and 3 water source wells. It is expected to achieve a peak production of approximately 37,000 barrels of oil equivalent per day in 2024. Announcement • Oct 26
CNOOC Limited Announces Enping 18-6 Oilfield Development Project Commences Production CNOOC Limited announced that Enping 18-6 Oilfield Development Project has commenced production. The project is located in the Pearl River Mouth Basin of the South China Sea, with an average water depth of approximately 99 meters. The main production facilities include one wellhead platform, with 15 development wells planned to be put into production. It is expected to achieve a peak production of approximately 9,300 barrels of crude oil per day in 2024. CNOOC Limited holds 100% interest in the project and acts as the operator. Announcement • Oct 24
CNOOC Limited Discovers Deep Coalbed Methane Field with Proved Gas In-place of over 100 Billion Cubic Meters CNOOC Limited announced that it has discovered the Shenfu deep coalbed methane (CBM) field in China, adding proved gas in-place of over 100 billion cubic meters. The Shenfu deep CBM field is located in Yulin, Shaanxi Province at the eastern edge of Ordos Basin. With continued research and exploration, the Company has advanced its understanding of deep coalbed methane formation mechanism, reservoir transformation and differentiated drainage technology, which have led to the successful discovery of the Shenfu deep CBM field. The discovery well SM2-33-CH1 encounters 16.5 meters of coal seam at aial depth of approximately 2,011 meters, which is tested to produce approximately 19,000 cubic meters per day after fracturing operations. The Chinese governmental authorities have evaluated and approved the proved gas in-place of Over 110 billion cubic meters, making it China's first large deep CBM field of the scale. It is another major onshore discovery by CNOOC Limited after the discovery made in Linxing, Shanxi Province, with similar proved gas in-place volumes. Announcement • Sep 25
CNOOC Limited Announces Lufeng 12-3 Oilfield Development Project Commences Production CNOOC Limited announced that Lufeng 12-3 Oilfield Development Project has commenced production. The project is located in the eastern South China Sea, with an average water depth of approximately 240 meters. The main production facilities include one wellhead platform and one newly built 100,000-ton intelligent FPSO, with 13 development wells planned to be put into production. It is expected to achieve a peak production of approximately 29,500 barrels of crude oil per day in 2024. Lufeng 12-3 Oilfield is the larger jointly-developed oilfield in the South China Sea in the past decade. It will provide stable energy supply for the Guangdong-Hong Kong-Macao Greater Bay Area and contribute to the high-quality development of local economy. Announcement • Aug 18
CNOOC Limited Announces Interim Dividend for the First Half Ended 30 June 2023, Payable on 18 October 2023 CNOOC Limited announced interim dividend of HKD 0.59 per share for the first half ended 30 June 2023. Ex-dividend date is 07 September 2023, Record date is 15 September 2023 and Payment date is 18 October 2023. Announcement • Jul 01
CNOOC Limited Announces Board Changes CNOOC Limited announced that with effect from 30 June 2023, Mr. Xia Qinglong ("Mr. Xia") resigned as an Executive Director and the President of the Company due to work commitments. Mr. Xia confirmed that he has no disagreement with the Board in any respect and there is no matter relating to his resignation that needs to be brought to the attention of the shareholders of the Company or The Stock Exchange of Hong Kong Limited. The Board would like to take this opportunity to express its sincere gratitude to Mr. Xia for his contribution and services as the Executive Director and the President of the Company. The Board further announces that Mr. Zhou Xinhuai ("Mr. Zhou"), an Executive Director and the Chief Executive Officer of the Company, also acts as the President of the Company with effect from 30 June 2023. The biographical details of Mr. Zhou are set out below: Born in 1970, Mr. Zhou is a professor-level senior engineer. He graduated from Chengdu University of Technology with a Master's degree in Coalfield Oil and Gas Geology and Exploration. In 2008, he received a Ph.D. degree in Energy Geological Engineering from China University of Geosciences. Mr. Zhou has worked with China National Offshore Oil Corporation (the "CNOOC Group") since 1996 holding several positions. From August 2003 to April 2014, he was the project manager and geological chief engineer of the Technology Department of the CNOOC (China) Limited Tianjin Branch, a subsidiary of the Company. He served as the Chief Geological Engineer of Bohai Oil Research Institute of CNOOC Bohai Petroleum Administrative Bureau, and as the manager of Exploration Department of CNOOC Bohai Petroleum Administrative Bureau and the manager of Exploration Department of CNOOC (China) Limited Tianjin Branch from April 2014 to March 2017. Mr. Zhou served as the Chief Geologist at CNOOC East China Sea Petroleum Administrative Bureau and the Chief Geologist at CNOOC (China) Limited Shanghai Branch, a subsidiary of the Company from March 2017 to October 2019. He also worked as the General Manager of the Exploration Division of the Company from October 2019 to March 2021. He served as the General Manager of CNOOC (China) Limited Hainan Branch, a subsidiary of the Company, and Chairman and General Manager of Hainan Energy Co. Ltd., from March 2021 to March 2022. He has served as the Deputy General Manager of the CNOOC Group since March 2022. He has been a Director of Overseas Oil & Gas Corporation Ltd. and CNOOC (BVI) Limited since April 2022. He has been the Chairman of the Board of CNOOC (China) Limited since October 2022. Mr. Zhou was appointed as an Executive Director and the Chief Executive Officer of the Company with effect from 28 April 2022, was appointed as a member of the Strategy and Sustainability Committee of the Company on 25 August 2022, and also acts as the President of the Company with effect from 30 June 2023. Announcement • Jun 28
CNOOC Limited to Report First Half, 2023 Results on Aug 18, 2023 CNOOC Limited announced that they will report first half, 2023 results on Aug 18, 2023 Announcement • May 09
CNOOC Limited, Annual General Meeting, May 31, 2023 CNOOC Limited, Annual General Meeting, May 31, 2023, at 14:00 China Standard Time. Location: Island Shangri-La Hotel Hong Kong Pacific Place, Supreme Court Road, Central Hong Kong Agenda: To consider and approve the audited financial statements, Independent Auditors' Report thereon for the year ended 31 December 2022 and the Report of the Directors; to consider and approve the re-election of Ms. Wen Dongfen as a Non-executive Director of the Company; and to consider other matters. Announcement • Jan 20
CNOOC Limited Provides Earnings Guidance for the Year Ended 31 December 2022 CNOOC Limited provided earnings guidance for the year ended 31 December 2022. Based on preliminary estimation by the financial department of the company and in accordance with the Chinese Accounting Standards for Business Enterprises, the net profit attributable to equity shareholders of the company for the year of 2022 is estimated to be between RMB 139.6 billion and RMB 143.6 billion, representing an increase between RMB 69.3 billion and RMB 73.3 billion, and representing an increase between approximately 99% and 104% as compared with the corresponding period of last year.